Managing finances can be stressful, but AI tools are helping individuals handle money more efficiently, according to Finder.com. These tools are now being used for budgeting, investments, credit monitoring, and even bill negotiation.
Use Budgeting and Expense Tracker Apps
Budgeting apps like Cleo and YNAB use AI to connect with your bank accounts, scan your income and spending, and sort your expenses into clear categories. The apps generate reports that help you understand your habits and make adjustments. While reviews vary, many users say these tools improve their financial awareness.
Set and Forget with a Robo-Advisor
Robo-advisors such as SoFi, Acorns, and Justwealth use AI to select and manage investments based on your risk tolerance and goals. The fees are generally lower than traditional financial advisors, making them a practical choice for people who want automated support. Some robo-advisors also include access to professional advice if needed.
Monitor and Improve Your Credit Score
Platforms like Credit Karma and TransUnion use AI to track your credit score, identify problem areas, and offer suggestions. These tools also promote offers that might help consolidate debt or lower interest rates. Many financial institutions now include credit monitoring features for customers at no extra charge.
Use an AI Financial Coach
AI-powered coaching is becoming more common in personal finance apps. For example, Origin’s assistant offers retirement assessments and customized advice based on spending patterns. These services aim to make financial planning more accessible and convenient.
Negotiate Lower Bills with AI
AI chat tools like ChatGPT can help you write messages to request lower service fees. For those open to paying for additional help, apps like Kikoff can try to negotiate better terms with your creditors. While not every attempt will succeed, these tools give people a starting point for lowering costs.
AI is not a full solution to financial challenges, but it is becoming a helpful part of how people save, invest, and plan.
